Home / Altcoins / Stellar Lumen (XLM) Price Trading Near Key Inflection Zone Below $0.08

Stellar Lumen (XLM) Price Trading Near Key Inflection Zone Below $0.08

Summary:
Stellar lumen price remained in a bearish zone and it tested the %excerpt%.0720 support zone against the US Dollar.XLM price is currently declining below %excerpt%.0780 and the 55 simple moving average (4-hours).There is a major declining channel forming with resistance near %excerpt%.0780 on the 4-hours chart (data feed via Kraken).The pair could either nosedive below %excerpt%.0740 or it might correct above the %excerpt%.0800 resistance.Stellar lumen price is struggling to recover above %excerpt%.0800 against the US Dollar, similar to bitcoin near ,000. XLM price could decline sharply unless it surges past %excerpt%.0800.Stellar Lumen Price Analysis (XLM to USD)After a steady decline, stellar lumen price found support near the %excerpt%.0725 zone against the US Dollar. The XLM/USD pair traded as low as %excerpt%.0722 and started an upside

Topics:
Aayush Jindal considers the following as important: , , , , ,

This could be interesting, too:

Nick Marinoff writes Another Bruise for Ripple as Grayscale Customers Say Goodbye to XRP Trust

Nick Marinoff writes Early Mt. Gox Creditors Are Now Entitled to “Justice” Payments

Nick Marinoff writes JPMorgan: Institutions Do Not See Bitcoin Beyond a Speculative Light

Nick Marinoff writes Stefan Thomas Is Okay with the Recent Loss of His BTC Fortune

  • Stellar lumen price remained in a bearish zone and it tested the $0.0720 support zone against the US Dollar.
  • XLM price is currently declining below $0.0780 and the 55 simple moving average (4-hours).
  • There is a major declining channel forming with resistance near $0.0780 on the 4-hours chart (data feed via Kraken).
  • The pair could either nosedive below $0.0740 or it might correct above the $0.0800 resistance.

Stellar lumen price is struggling to recover above $0.0800 against the US Dollar, similar to bitcoin near $11,000. XLM price could decline sharply unless it surges past $0.0800.

Stellar Lumen Price Analysis (XLM to USD)

After a steady decline, stellar lumen price found support near the $0.0725 zone against the US Dollar. The XLM/USD pair traded as low as $0.0722 and started an upside correction above $0.0750.

The pair was able to climb above the $0.0800 resistance and the 55 simple moving average (4-hours). However, the upward move was capped by the $0.0850 resistance. As a result, there was a fresh decline below the $0.0800 level.

The recent low was formed near $0.0753 and the price is currently consolidating losses. It is testing the 23.6% Fibonacci retracement level of the recent decline from the $0.0823 high to $0.0753 low.

It seems like there is a major declining channel forming with resistance near $0.0780 on the 4-hours chart. Above the channel resistance, the next hurdle is near the $0.0788 level. It is close to the 50% Fibonacci retracement level of the recent decline from the $0.0823 high to $0.0753 low.

The main resistance is near the $0.0800 level and the 55 simple moving average (4-hours). A successful close above the channel resistance and the $0.0800 barrier may perhaps open the doors for a larger increase.

Conversely, the price might fail to climb higher and it could extend its decline below $0.0750. The first major support below the $0.0750 level is near the $0.0720 level. If there is a clear break below $0.0720, the price could even slide below $0.0700.

Stellar Lumen (XLM) Price

Stellar Lumen (XLM) Price

The chart indicates that XLM price clearly facing an uphill task near the $0.0780 and $0.0800 levels. Overall, the price could either nosedive below $0.0740 or it might correct above the $0.0800 resistance.

Technical Indicators

4 hours MACD – The MACD for XLM/USD is struggling to move back into the bullish zone.

4 hours RSI – The RSI for XLM/USD is currently declining and it is close to the 40 level.

Key Support Levels – $0.0750 and $0.0720.

Key Resistance Levels – $0.0780, $0.0800 and $0.0850.

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *